U.S. stocks opened lower on Tuesday, as rising government bond yields triggered selloffs in global equity markets. The Dow Jones Industrial Average lately dropped 153.28 points, or 0.85%, to 17,951.89. The S&P 500 was down 16.68 points, or 0.79%, to 2,088.65. The Nasdaq Composite shed 52.14 points, or 1.04%, to 4,941.44.
The weekslong selloff in Treasury bonds is continuing Tuesday, sending the yield on the benchmark 10-year note to a six-month high.Government bonds in Europe also sold off, driving downward the value of debt from Germany, France, Italy to Spain and sending their yields climbing.
Verizon Communications Inc (VZ.N) said it would buy AOL Inc (AOL.N) in a $4.4 billion deal that gives the biggest U.S. wireless carrier access to AOL’s mobile video platform and content including the Huffington Post news website. The offer of $50 per share represents a premium of 17.4 percent to AOL’s Monday close of $42.59.
Brent crude futures rose towards $66 a barrel on Tuesday as a weaker dollar and the Yemen conflict helped lift prices. June Brent crude was up $1.08 at $65.96 a barrel by 1330 London time. June West Texas Intermediate (WTI) rose 82 cents to $60.07 a barrel.
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